New Jersey Resources (NYSE:NJR) Stock Rating Lowered by StockNews.com

New Jersey Resources (NYSE:NJR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Separately, Argus upgraded New Jersey Resources to a “strong-buy” rating in a report on Monday, June 10th.

New Jersey Resources Stock Performance

Shares of New Jersey Resources stock traded down $1.80 on Monday, hitting $45.00. The stock had a trading volume of 682,590 shares, compared to its average volume of 512,279. New Jersey Resources has a twelve month low of $38.92 and a twelve month high of $47.37. The business’s 50 day moving average is $43.79 and its two-hundred day moving average is $42.94. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.25. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 17.79 and a beta of 0.60.

New Jersey Resources (NYSE:NJR) last released its earnings results on Tuesday, May 7th. The utilities provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.08. The firm had revenue of $657.91 million during the quarter, compared to analysts’ expectations of $669.64 million. New Jersey Resources had a return on equity of 12.16% and a net margin of 14.46%. Analysts forecast that New Jersey Resources will post 2.95 EPS for the current year.

Insider Transactions at New Jersey Resources

In related news, CEO Stephen D. Westhoven sold 3,400 shares of New Jersey Resources stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $45.00, for a total value of $153,000.00. Following the completion of the transaction, the chief executive officer now directly owns 195,305 shares in the company, valued at approximately $8,788,725. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other New Jersey Resources news, CEO Stephen D. Westhoven sold 26,600 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $45.06, for a total value of $1,198,596.00. Following the completion of the transaction, the chief executive officer now directly owns 168,705 shares of the company’s stock, valued at approximately $7,601,847.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen D. Westhoven sold 3,400 shares of New Jersey Resources stock in a transaction on Friday, July 12th. The stock was sold at an average price of $45.00, for a total transaction of $153,000.00. Following the sale, the chief executive officer now directly owns 195,305 shares of the company’s stock, valued at $8,788,725. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $2,207,996 in the last quarter. Insiders own 0.75% of the company’s stock.

Institutional Trading of New Jersey Resources

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in shares of New Jersey Resources by 8.9% in the fourth quarter. Raymond James & Associates now owns 49,232 shares of the utilities provider’s stock valued at $2,195,000 after acquiring an additional 4,010 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of New Jersey Resources by 33.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,273 shares of the utilities provider’s stock valued at $1,706,000 after buying an additional 9,589 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of New Jersey Resources by 4,358.0% during the fourth quarter. International Assets Investment Management LLC now owns 94,108 shares of the utilities provider’s stock valued at $4,195,000 after buying an additional 91,997 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in New Jersey Resources by 2.3% in the fourth quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 265 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in New Jersey Resources by 4.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,427 shares of the utilities provider’s stock worth $1,981,000 after purchasing an additional 1,996 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.